Nepal Rastra Bank, Central Bank of Nepal

Established under the Nepal Rastra Bank Act 1955, Nepal Rastra Bank (NRB) is the Central Bank of Nepal. The bank was established in order to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector in Nepal. There has been a significant growth in both, the number and the activities of the domestic financial institutions since the inception of Nepal Rastra Bank.

The new Nepal Rastra Bank Act of 2002 has characterized the primary functions and objectives of the bank as to formulate necessary monetary and foreign exchange policies to maintain the stability in price and consolidate the balance of payments for sustainable development of the economy of Nepal, to develop a secure, healthy and efficient system of payments, to make appropriate supervision of the banking and financial system in order to maintain its stability and foster its healthy development and to further enhance the public confidence in Nepal’s entire banking and financial system.

The bank understands the need and importance of sustained progress and continued reform of the financial sector to fulfill its objectives in the present dynamic environment. For this, it has been seriously pursuing various policies, strategies and actions that are all explained in the annual report on its monetary policy.

The bank was established with a mission of maintaining the macro-economic stability through sound and effective monetary, foreign exchange and financial sector policies and it envisions being a modern, dynamic, credible and effective Central Bank. The bank, apart from providing banking and financial services, also keeps a watch and monitors the functioning and operation of other banking and financial institutions. The bank has its district offices in seven districts and branch office in Thapathali, Kathmandu with its central office located at Baluwatar.